ZAGREB, May 12 (Hina) - The Croatian National Bank (HNB) Council on Wednesday discussed the latest economic and monetary trends and adopted an annual report on the central bank's work and transactions in 2003 as well several
decisions, the HNB said in a press release.
ZAGREB, May 12 (Hina) - The Croatian National Bank (HNB) Council on
Wednesday discussed the latest economic and monetary trends and
adopted an annual report on the central bank's work and transactions
in 2003 as well several decisions, the HNB said in a press release.#L#
Last year's 1.5 percent increase in retail prices, a basic inflation
rate of only 0.7 percent, a satisfactory stability of the exchange
rate, and the growth of international reserves from US5.88 billion to
8.19 billion indicate that in 2003 the HNB was successful in carrying
out its main task, the press release read.
Last year also saw a stable banking sector, characterised by a 15.7
percent capital adequacy rate, a high profitability and an average
capital yield rate of 15.6 percent.
Apart from maintaining macroeconomic stability, in 2003 the HNB
focused on slowing down the bank loan issuance rate and the growth of
the external debt. The bank loan issuance growth rate went down from
33.6 percent in 2002 to 11.3 percent last year.
This year's January-March period saw a growth of industrial
production, whose annual growth rate is 3.5 percent, as well as of
construction, which went up 14.4 percent in February. The annual
growth of consumer prices in March was 1.4 percent, the same rate as
that of basic inflation.
Data for April are not yet available but they are expected to reflect
the increase in oil products' prices, which might push inflation up to
about 2.5 percent in May, although the expected stabilisation of
prices in the coming months should stabilise inflation.
After a long time, this year's first quarter also saw bank loans to
companies grow faster than those to citizens.
(Hina) ha sb